Opening-up benefits China and the world: China Daily editorial

The Government Work Report delivered by Premier Li Qiang at the opening of this year's National People's Congress session underscores China's unwavering commitment to high-level opening-up as a cornerstone of its high-quality development strategy.

Against the backdrop of a complex and volatile global economic landscape, the report outlines a clear road map for expanding institutional opening-up, stabilizing foreign trade and investment, and deepening international cooperation. The measures put forward will not only help reinforce China's role as a stabilizing force in the global economy but also demonstrate its determination to foster shared growth and prosperity through openness and collaboration.

China's leadership has consistently emphasized the importance of openness in driving reform and development. Despite rising protectionism and escalating trade tensions in some parts of the world, China remains steadfast in its commitment to opening-up. The removal of restrictions on foreign investments in manufacturing last year was a bold step forward, signaling China's willingness to create a more inclusive and attractive environment for global investors.

The government's agenda for 2025 builds on this foundation, with plans to steadily expand institutional opening-up and advance unilateral opening-up. By promoting reform and development through greater openness, China aims to unlock new opportunities for both domestic and international stakeholders.

The heads of the National Development and Reform Commission, Ministry of Finance, Ministry of Commerce, People's Bank of China, and the China Securities Regulatory Commission held a Q&A session on Thursday on the sidelines of the annual gathering of the 14th NPC, in which they affirmed that despite domestic consumption driving growth, measures to stabilize foreign trade and attract foreign investment are a strategic priority.

The central government will therefore implement policies to strengthen the trade sector by supporting businesses in securing orders and exploring new markets. Relevant departments will continuously optimize financial services such as financing, settlement, and foreign exchange, expand the scale and coverage of export credit insurance, and strengthen support for enterprises to participate in and organize exhibitions overseas.

The government is also actively promoting the development of cross-border e-commerce, making efforts to improve the cross-border express logistics system, and strengthening the construction of overseas warehouses. This year the authorities will work to expand the functions of overseas economic and trade cooperation zones, develop the trade in intermediate products, and promote the construction and cooperation of smart customs to improve the level of customs clearance facilitation.

China remains a major global destination for foreign direct investment. To attract more investment, the government will expand openness in the service sector, particularly in culture, the internet and telecommunications, healthcare, and education through pilot programs. The authorities will also encourage reinvestment and support foreign investors in industry chain collaboration, ensuring equal treatment in areas such as licensing, procurement, and standards.

Support for foreign enterprises is also to be enhanced, with "landmark projects" advanced and the building of the "Invest in China" brand. Concerted efforts are to be made to improve the pilot free trade zones, advance the Hainan Free Trade Port, and upgrade economic development zones and bonded areas. These efforts will focus on creating a market-oriented, law-based, and internationalized business environment to foster the growth of foreign-funded enterprises.

The outlined measures indicate that China is not only addressing its own development needs but also contributing to global economic stability and growth by opening its door wider, stabilizing foreign trade and investment, and deepening international cooperation.

As the world grapples with uncertainty and protectionism, China's commitment to openness and collaboration sends a powerful message of confidence and responsibility. As the nation continues to chart its development trajectory, its efforts to build a more inclusive and interconnected global economy will undoubtedly create new opportunities for shared success and a brighter future for all.